Brexit isn’t a problem for italian banks

Brexit doesn't scare Italian banks; this is the concept expressed by Giovanni Sabatini, General Manager ABI, during the presentation of the Global Institute of International Affairs outlook, according to which "the market seems to have changed everything, but if we look at the fundamental Italy and the system Italian bank are less exposed than the Brexit risk ".

"The exposure of the banking sector to financial institutions in Britain is absolutely limited and in any case less than France, Spain and Germany, but for the markets is not so. It looks as if Italy after the vote has been overwhelmed by a huge problem. "

"The problem of Italian banks are called impaired loans and there were before and after Brexit. And they saw a toolbox provided enough tools to handle the issue. But the markets think otherwise. What happened? Little or nothing. The problem is that in the face of crisis, Europe responds uncertain, ambiguous and stutters. " According to Sabatini, who referred to the cases of Cyprus, Greece and also the crisis of migrants: "We haven't learned from the crises we have had."

In the morning, however, the Eurogroup President, Jeroen Dijsselbloem, had called the Italian banks to comply with the new European rules on bailouts, involving the support of the shareholders and the bondholders (the so-called bail-in) to protect taxpayers. "Until 1 January it could support the banks with money coming from taxpayers," said in The Hague, "but now that possibility has been limited and will not back down."